Financial Friday: Thieves Would Love to Be You

Financial Friday, Stetson University

Even without a long credit history or earnings record, your identity is valuable to identity thieves.

Betty Thorne, Ph.D.
Betty Thorne, Ph.D.

Approximately 17 million Americans have their identities used fraudulently each year. Thieves have been known to go through garbage, hack computers on public hot spots, or steal mail and company records to get enough information to take out a credit card or driver’s license in your name in order to obtain jobs and charge purchases, leaving you to foot the bill.

You can reduce your chances of becoming a victim of identity theft. Don’t leave your personal information lying around for others to see. Safeguard it as if it were “like cash,” says the American Institute of CPAs.

Other advice from the group:

  • Make sure your computer is secure. Use security software — have a firewall and virus/malware protection.
  • Don’t open attachments in email unless you know who they came from.
  • Don’t overshare personal information on social media, such as past addresses or the purchase of a new car because this could help identity thieves pose at you.
  • Be careful sharing your Social Security number. Don’t carry around your Social Security card.
  • Shred old tax documents, never just throw them in the trash.
Valrie Chambers, Ph.D., Stetson University professor
Valrie Chambers, Ph.D.

Take a few minutes to read the simple steps the American Institute of CPAs recommends to prevent identity theft.

Valrie Chambers, Ph.D., professor of accounting, and Betty Thorne, Ph.D., professor of statistics and the Christian R. Lindback Chair of Business Administration, write Financial Fridays to bolster students’ financial wellness including preventing financial mistakes, safeguarding their assets and identity, and thinking critically about financial decisions.